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From Rotary Phones to FaceTime: Employee Communication Across 5 Generations

Posted by Morgyn Cronan, Benefits Communications Specialist on November 6, 2018 at 4:30 PM
From Rotary Phones to FaceTime: Employee Communication Across 5 Generations

Some of us remember when phones didn’t have screens and FaceTime meant, well, face time. Others of us are old enough to remember when our phone’s handset was connected to a long, curly cord and you could only walk a few steps before you had to make your way back to your desk. And the rest of us, though we might not want to admit it, remember moving a dial around with our index finger and waiting for the operator to connect us to the other party.

With the passage of time, technology builds on itself, shifting our perceptions, how we do business, and how we communicate with our employees.

According to the Society for Human Resource Management, for the first time in American history, there are five different generations found in the workplace. This poses a unique challenge for today’s employers. How do we effectively meet the communication styles of each generation? You can— and should—leverage technology to communicate across your multi-generational team.

To assist you in determining how to best adapt your communication strategy for your diverse workforce, let’s take a look at each generation, their comfort-level with technology, and their preferred methods of communication.

 

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Topics: Employee Benefits

Life Sciences Compensation Remains Strong For Senior Leaders

Posted by Jeremy Anderson on October 31, 2018 at 3:08 PM
Life Sciences Compensation Remains Strong For Senior Leaders

The state-of-pay in the life sciences industry continues to be strong – very strong.

According to the latest State-Of-Pay Reports from Marsh McLennan Agency (MMA), compensation for CEOs, Chief Financial Officers, General Counsels and board directors is at an all-time high.

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Topics: Employee Benefits, Compensation Consulting

Total Rewards Compensation – A Winning Strategy In California’s Full-Employment Economy

Total Rewards Compensation – A Winning Strategy In California’s Full-Employment Economy

How do you recruit, retain and motivate top-performing employees in California’s tight labor market?

Faced with stiffer competition for talent, a growing number of employers are adopting a “total rewards” approach to pay that manages compensation, benefits and retirement as a single, integrated program.

The holistic approach of a total rewards strategy breaks down the silos typical in many HR departments. With closer coordination between different HR disciplines, companies can create compelling pay strategies that differentiate themselves in the marketplace. At the same time, HR leaders can address the concerns of Chief Financial Officers, who increasingly want data to justify compensation.

Strong Headwinds

A total rewards strategy makes sense given the three challenges facing employers in the most competitive labor market in nearly a decade.

First, California, like other states, has adopted pay equity laws. Those laws should bring greater equity to the workplace over time, but most immediately, they will impact existing pay structures and go-to-market strategies.

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Topics: Employee Benefits, Compensation Consulting

Why Transitioning Away from a PEO May Make Sense for your Business

Posted by Jacob Schaaf, Client Executive, Employee Benefits Division on September 24, 2018 at 10:00 AM
Why Transitioning Away from a PEO May Make Sense for your Business

This article was first published in San Francisco Business Times.

Professional Employer Organizations (PEOs), which provide outsourced HR services such as payroll, benefits, workers’ compensation and 401(K) administration, can be a terrific option for smaller companies without an in-house Human Resources team. But how do you know whether you’ve outgrown that solution?

For high-growth companies, it’s a critical question. Many firms often stay too long with a PEO when an in-house HR team supported by a full-service business insurance broker can provide more services and ultimately achieve the intended goal: attracting and retaining a high-quality, diverse workforce.

Why Leave a PEO?

As companies grow, their needs change.

To compete in today’s full-employment economy, organizations need a cost-effective HR program customized to their specific needs. Tech companies often have different HR and benefits requirements than life science companies. Likewise, manufacturing firms and nonprofits often require different strategies to compete and win.

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Topics: Employee Benefits, Healthcare

How to Communicate Like an All-Star this Open Enrollment Season

Posted by Morgyn Cronan, Benefits Communications Specialist on August 20, 2018 at 10:00 AM
How to Communicate Like an All-Star this Open Enrollment Season

Let’s get real. Annual open enrollment season makes many HR teams want to run for the hills. When 49% of employees state that making health insurance decisions is stressful [1], it is crucial that employers adequately communicate and educate employees during open enrollment. To prepare you for your upcoming open enrollment season, your Marsh & McLennan Agency (MMA) benefits communication experts are here to equip you with six superb strategies to help you develop an all-star communication plan.

What to DO:

1. EVALUATE YOUR PREVIOUS YEAR’S OPEN ENROLLMENT

As you reflect on your previous year’s open enrollment, consider asking yourself what part of your communication strategy was a success. And, where did you fall short with your communication efforts?  Are there any aspects you should replicate or avoid? Don’t be concerned about bringing back a successful communication tactic from last year OR changing it up if you didn’t meet the needs of your employees. Work with your MMA team to learn about new communication channels or tools that you could bring to open enrollment this time around.

2. OBTAIN YOUR EMPLOYEE’S FEEDBACK

Employees who believe that their company cares about their health and well-being are 38% more engaged, 28% more likely to recommend their workplace, and 17% more likely to still be working at their current employer in one year [1]. What better way to show you value your employees than to request their feedback?

Whether it be through focus groups or electronic surveys, gathering feedback will help you understand if your employees are engaging in their benefits and what communication tools they need to better comprehend the complex content. For example, have you asked your employees how they want to receive their benefits information? Do you know how they would answer? Maybe they're looking for videos or more visuals to spruce up their learning. Marsh & McLennan Agency can help you create customized benefits surveys to help you better understand and reach your employee population.

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Topics: Employee Benefits

Before You Say 'I Do': Why Your Wellness Program Shouldn't Marry Your Carrier

Posted by Frank Jakka, CWP, CPT, Director, Health & Productivity on August 13, 2018 at 10:00 AM
Before You Say 'I Do': Why Your Wellness Program Shouldn't Marry Your Carrier

For most employers, your wellness program is closely tied to your employee benefits package. Wellness incentives and initiatives, as well as measures of program effectiveness, are typically guided by your benefits plan and claims information.

Insurance carriers are well aware of the relationship between wellness programs and health plan benefits, with almost all providing some type of complimentary preventive health or wellness program design. Wellness program support can come in the form of health education seminars, biometric screenings, flu shots, or even a technology platform.

While we recommend leveraging these carrier offerings (especially those at no cost), we suggest not getting too married to their programs and keeping a maiden program identity. Before becoming too smitten with your carrier, consider putting their proposal on ice (or I.C.E.):

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Topics: Employee Benefits, Wellness

California Supreme Court Ruling Establishes New Test For Determining Employment Status of Independent Contractors

Posted by Marsh & McLennan Agency West Region on May 10, 2018 at 8:00 AM
California Supreme Court Ruling Establishes New Test For Determining Employment Status of Independent Contractors

Decision may lead to higher costs and greater liabilities for employers

California employers who engage independent contractors are now subject to a stringent new test that may ultimately force employers to reclassify many of these workers as employees, according to a ruling by the California Supreme Court on April 30, 2018.

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Topics: Breaking News, Workers' Compensation, Employee Benefits, Human Resources, Property + Casualty

How to Craft Your Benefits Package to Appeal to Millennials

Posted by Alan Ikeya, Principal on May 7, 2018 at 10:00 AM
How to Craft Your Benefits Package to Appeal to Millennials

This article was first published in San Francisco Business Times.

Millennials are reshaping the workforce, so is it any surprise their priorities are also redefining employee benefit programs?

Unlike employees in years past, highly-motivated, highly-educated millennials are looking for more than just a 401(k) contribution, medical and dental insurance, and paid-time off.

They’re actually looking for employee benefits that help them with challenges previous generations never encountered, like the crushing burden of student debt. And, they want their employers to offer a broader range of health and wellness benefits to support their active lifestyles.

Why millennials matter so much

For employers, satisfying the changing priorities of millennials is critical. In 2016, millennials – those between those ages 21 to 36 last year – became the largest generation in the workforce, according to Pew Research. Today, one in three workers is a millennial. By 2025, 75 percent of the workforce will be millennials.

In today’s increasingly tight labor market, particularly in urban centers like the San Francisco Bay Area where technology firms have set a very high bar, benefit programs that address millennial concerns can make all the difference in successful recruiting.

In our work with large and small firms across every industry segment, we have partnered with employee benefits program managers to suggest innovative benefits that align with millennial lifestyles.

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Topics: Technology, Wellness, Market Trends, Employee Benefits

5 Ways to Get More From Your HR Technology Investment

Posted by Sam Brasch, Principal on March 5, 2018 at 10:00 AM
5 Ways to Get More From Your HR Technology Investment

This article was orginally published in San Francisco Business Times.

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Topics: Employee Benefits, Technology, Human Resources

Staying Top-Of-Mind: Compliance Requirements for 2018

Posted by Christopher K. Bao, Esq, Compliance Manager on January 3, 2018 at 10:00 AM
Staying Top-Of-Mind: Compliance Requirements for 2018

With the ever-changing landscape of the many compliance related requirements imposed on employers, it can feel like a full-time job to keep up with the many legal obligations and deadlines related to their health plans. To help employers stay on track, our in-house ERISA Attorneys have developed two step-by-step tools to assist with benefits plan administration in 2018.

2018 COMPLIANCE CALENDAR

The Compliance Calendar includes specific health plan deadlines that your company may need to meet during the 2018 calendar year. Although this calendar is intended for calendar year plans, it also contains some important deadlines for non-calendar year plans.

2017 FORM 1094-C AND FORM 1095-C CHEAT SHEET

Understanding how to complete the 1094-C and 1095-C Forms can be complicated and time consuming. To make the process more efficient and to assist employers with their general questions, we developed a line-by-line explanation of Forms 1094-C and 1095-C. Please note: As of December 22, 2017 the IRS has provided a thirty (30) day extension for employers/insurers to furnish Forms 1095-C and Form 1095-B to employees and insureds.

The 2018 Compliance Planning toolkit includes the 2018 Welfare Plan Compliance Calendar and 1094-C/1095-C Forms Cheat Sheet. Download your toolkit below.

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If you have any questions, please reach out to your broker.

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Topics: Employee Benefits, Legislative Compliance

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